Coal-fired plants are not required to obtain EPA approval for minor modifications to
their plants.
Intensity zoning controls items such as building set’‘backs.
Landowners are liable for any injuries resulting from criminal acts committed on their
property.
Actual and exclusive possession requires the adverse possessor to be on the property at
all times.
In the case of a corporate owner listing agreement, the proper officer must sign the
listing and have authority to do so for it to be valid.
Many former gas stations have been designated as Superfund sites because of the
underground storage tanks located there.
A net listing is the same as an exclusive right’‘to’‘sell.
Real property tax rates cannot have maximum limitations.
A risk in metes and bounds descriptions is that starting points can move or disappear.
Temporarily withdrawing a home from the market to prevent its purchase is a method of
steering.
Disclosure statutes may require brokers/agents to discuss certain issues related to a
property.
Domestic partnership rights apply to same-gender couples in all states.
There is no limit on the URLTA on the amount of security deposit or prepaid rent that
the landlord can charge.
Rules and regulations can be incorporated by addendum into a lease agreement.
‘Total move-in costs of $3,500’ is an example of triggering language for purposes of
credit ad disclosures.
Group homes can be prohibited by a local zoning plan.
State constitutions do not affect the sale and use of real property.
Some states have statutes that prohibit affirmative disclosure of certain information
about property.
Living wills are wills made while the testator has capacity.
There is no strict liability for toxic waste, only due diligence.
The neighborhood stabilization program
a. Is a HUD program
b. Is a state-by-state program that supports developers
c. Is a federal programs that provides TARP money for developers
d. None of the above
Metes and bounds descriptions start from a reference point and describe property by
a. Distance and direction
b. Reference to government survey
c. Reference to plat maps
d. None of the above
The Home Mortgage Disclosure Act and the Community Reinvestment Act
a. Are anti’‘redlining statutes
b. Apply only to single-family dwelling loans
c. Are the Fair Housing Act
d. None of the above
Under an exclusive right’‘to’‘sell listing, the seller
a. Pays a commission regardless of who sells the property
b. Pays a commission only if the broker sells the property
c. Is free to list with other brokers and still pay only one commission
d. None of the above
Which of the following should be covered in a commercial lease agreement?
a. Lease term
b. Maintenance issues
c. Rent issues
d. All of the above
Parent corporations have liability for the environmental violations of subsidiaries if
a. They share officers
b. There is no appreciable asset base in the subsidiary
c. The subsidiary was created to spin-off environmental concerns
d. All of the above
Which of the sections of the U.S. Constitution apply in real property issues?
a. Fifth Amendment
b. Fourteenth Amendment
c. Both a and b
d. Neither, state constitutions are applicable only to real estate
A first to file, first in right state will
a. Give mechanics priorities back to the time construction began
b. Give general contractors priority over subcontractors
c. Give mechanics priorities according to the time each individual project is begun
d. None of the above
A misplaced the fence on his property boundary. The fence is six inches too far and is
on his neighbor’s, B’s, property. A puts grass and trees in the area by the fence and cares
for it for 27 years. A
a. Is a trespasser
b. Has a license to use the six inches
c. Has a life estate
d. Has acquired title by adverse possession
The following description appears in a deed: “The home at 4244 Seville Street, Indigo,
CA.” This description:
a. Is an example of a metes and bounds description
b. Is an example of a plat map description
c. Is inadequate
d. None of the above
What are VOWs?
a. Virtual office websites
b. The oath real estate agents take to become licensed in a state
c. The terms and conditions under which a dual agency is created
d. Veterans of Wars real estate agents
Ann Nielson is closing on her purchase of a townhome. Her annual property taxes are
$3,600. The taxes are due on April 30th of each year. Ann is closing on July 15th. Her
first full payment on her mortgage will be on September 1st. What is the maximum
amount that Ann can be required to pay into escrow for the taxes?
a. $600 or two months’ taxes
b. $600 or two months’ taxes plus two months or $1,200
c. $1,800
d. $3,600
What do BANANAs address?
a. General issues related to urban sprawl
b. Oil refineries
c. The need for potassium in the diet
d. Nuisance effects from data processing plants
Which of the following issues does the Fourth Amendment to the U.S. Constitution
address?
a. Search and seizure
b. Due process
c. Just compensation
d. Equal protection
G left his property to X ‘so long as the property is used for school purposes.” What type
of interest does G hold?
a. Fee simple determinable
b. Possibility of reverter
c. Right of entry/power of termination
d. None of the above
Assume the following sequence of events:
Construction began on December 16, 2012. The total amount left after the contractor
declared bankruptcy for distribution to these lien holders is $9,000.
Art’s Artful Framing ‘“ filed lien for $6,000 on January 1, 2013
Paul’s Perfect Plumbing ‘“ filed lien for $3,000 on January 15, 2013
Ralph’s Resourceful Roofing ‘“ filed lien for $4,000 on January 27, 2013
a. Distribute the following funds according to the common law rule on priorities.
b. If the construction is in a line-filed state, how would the funds be distributed?
To which of the following does the three-day rescission period not apply?
a. The issuance of a new credit card
b. A home equity line of credit
c. A second mortgage
d. The sale of a solar water heater system in the home on credit
Which of the following meets the Article 9 authentication requirement for a security
interest?
a. E-mail
b. Fax
c. Signature
d. All of the above
Patty Heinz was the listing agent for John Donne’s property, an island home. Heinz
formed an LLC and purchased the property through the LLC. Donne was not aware of
Heinz’s ownership interest.
a. Heinz has done nothing wrong
b. Heinz is owed her commission
c. Heinz has breached her fiduciary duty
d. None of the above
Which of the following is not a valid restriction in a cooperative interest?
a. A requirement to offer the interest first to the corporation
b. A requirement on transfer at death
c. A requirement for approval prior to leasing
d. All of the above are valid restrictions
Explain when lien foreclosure is required.
After an 11-month struggle with esophageal cancer, Leonard R. Brener died on
December 8, 2001, at age 85. He had never married. He had no children. He had a long
and successful career as a stockbroker. The value of his estate was $8 million. Several
nieces and nephews survived him. He had originally left nearly all of his estate to the
Carroll Center for the Blind, the Perkins School for the Blind, and Beth Israel
Deaconess Medical Center, Inc. The gifts to these nonprofit organizations during
Brener’s life and through his will were made through detailed living, testamentary, and
pour-over trusts. Brener said he did not understand all aspects of the trusts. During the
last five weeks of his life he was hospitalized and drafted and executed the final version
of his will, which made one niece and her husband the primary beneficiaries of his
estate. The nonprofit organizations sought to have the will set aside for lack of
testamentary capacity. During those five weeks of terminal illness, Brener spoke of
suicide by jumping out of the window, complained of depression, and often complained
to his lawyer that he did not understand all the estate planning tools that were being
used in his will. The staff at the hospital testified that Brener did not seem confused and
was aware that he was dying and wanted to be sure his affairs were in order. Discuss
whether the will leaving his estate to the niece and her husband was valid.
Would the Army Corps. of Engineers be required to file an EIS to build a dam for hydro
power?
When there is a gap between present and future interests, an executory interest is
created.
Explain a process a commercial tenant who is making alterations and improvement to
leased property should follow if he/she wants to be able to remove the improvements
when the lease ends.
Explain landlords’ authority when tenants engage in criminal activity.
A secured creditor who removes its collateral from a property that is about to be
foreclosed upon must pay the foreclosing creditor for the loss of value to the property
that results from the removal.
Private laws need not comply with constitutional protections.